Now Trying to Sell 4 Years Later in East Lakeview: 3145 N. Cambridge
In July 2010 we chattered about this 2-bedroom top floor unit in The Cambridge, at 3145 N. Cambridge in East Lakeview.
See our July 2010 chatter here.
It has been on and off the market since April 2009.
Since our last chatter, it has been reduced another $20,000 and is now listed for $41,000 under the 2007 purchase price.
It has 9-foot ceilings, a decorative fireplace and crown moldings.
The kitchen has been updated with 42 inch maple cabinets, granite counter tops and stainless steel appliances.
There is an in-unit washer/dryer but no central air and no parking.
What will it take to sell this property?
Jeff Lowe at Prudential Rubloff now has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, 1300 square feet
- Sold in March 1992 for $147,000
- Sold in February 2007 for $340,000
- Originally listed in April 2009
- Withdrawn
- Re-listed for $329,000 in February 2010
- Reduced
- Was listed in July 2010 for $319,000
- Reduced
- Currently listed for $299,000
- Assessments of $397 a month (includes heat)
- Taxes of $3757
- No central air- window units
- In-unit washer/dryer
- No Parking
- Bedroom #1: 14×12
- Bedroom #2: 13×8
- Dining room: 13×17
Things have gotten even weirder than I thought here in Chicago if this place does not sell at list. I thought this place would surely sell in the $350K range.
It’s beautiful, and the taxes and monthly assessments are very reasonable. The location is great. I remember when this bldg. first converted 20 years ago or so, at $150K a unit.
Chicago and Las Vegas now have the most troubled condo markets in the country, even worse than MIAMI. I didn’t know anything could get worse than Miami except maybe after a ten-year world ward and the collapse of every economy in the G20.
unfortunately for the seller, these vintage units w/ no A/C and no parking are a dime a dozen in ELV. if this place at 2600sq ft down the street is only worth $385k, what is the unit at 3145 Cambridge worth?
http://www.redfin.com/IL/Chicago/411-W-Briar-Pl-60657/unit-D3/home/13373078
I’m glad the Realtard has two identical pictures of the bathroom and two of the courtyard.
with AC and parking, it might have sold near the Feb price point before the tax credit expired.
the unit at 411 w. briar sold for $146/sq ft…that would value this place at $189,800. based on the comps, this place could have a ways to go before it gets sold.
laura…
no parking
window unit AC
lots of inventory at this price level without high assessments to choose from
A friend of mine lives across the street from this place. It’s a great location but if you have a car you can forget about street parking. Absolutely forget about it.
I lived across the street from this building for a few years and got a lot of entertainment out of watching people: a)circle the block 6X in search of a parking spot; b)try repeatedly to squeeze into a space exactly 3/4″ longer than the vehicles they were driving; and c)get into arguments with other contestants for the same parking spot. It was fracking HILARIOUS around there on Friday and Saturday nights.
Beautiful unit
This unit is not at all attractive to me as it has no views what so ever and the kitchen is really lame, but seems to be a fairly nice buy for the neighborhood and folks that are not into the view, doorman, pool kind of thing. I am shocked that it had to be reduced. I really feel like we should hold off buying before the market stabilizes. We are interested in north facing units (both lake and city views) in museum park one east, but they are at 750K range and I feel they should be at 600K. Now after seeing this I wonder even if that is too much?…Sigh…it is very confusing.
Elv is no joy. No parking, no ac, no laundry, congestion, and its not on an island named ‘manhattan?. And you’re asking a premium for your 1300 sq ft vintage ‘condo’? And you have to take the bus to work?
What I like about this unit is its proximity to the lake. During months like these I like the breeze coming off of the lake as well as the constant flurry of lake effect snow during half of Jan & Feb. It is a nice plus and even though this unit doesn’t have a view of the lake, the owner can walk over to verify whether its frozen. Lack of outdoor space, too.
Street parking can indeed be a nightmare in this part of town. Although if willing to travel & walk a couple blocks not terrible, but you’d be crazy to park any kind of nice car in this part of LV on the street.
For mass transit this thing additionally is not right near any major corridor to get downtown. You’re locked into the LSDE bus? No deeded parking + reliance on bus to get downtown. LOL no thanks.
“For mass transit this thing additionally is not right near any major corridor to get downtown. You’re locked into the LSDE bus? No deeded parking + reliance on bus to get downtown. LOL no thanks.”
I thought you loved the bus and disdained the special status of “close to el” locations?